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The Bank shall be subject to examination and supervision by the Banking Board of the Virgin Islands, in accordance with the terms of the Banking Law applicable to banks organized under or subject to the provisions thereof; provided, however, that no fee shall be required to be paid by the Bank in connection with any such examination.
The Banking Board shall issue to the Bank a certificate setting forth the result of each such examination, which certificate shall be presented to the Board of Directors at its next regular or special meeting. The Bank shall also be subject to an annual examination and audited statement by certified public accountants of national reputation selected by the Board of Directors of the Bank. Such statement shall be made public.